Louis plc first-half net loss widens to €18.7 million
Louis plc reported a wider first-half loss and lower turnover, citing reduced tourist traffic to Cyprus amid Middle East uncertainty.
Nicosia, Cyprus. Louis plc reported a net loss of €18.70 million for the first half of 2026, compared with a €11.10 million loss in the same period a year earlier, as reduced tourist traffic affected its performance.
The hotel and tourism group said geopolitical developments and uncertainty in the wider Middle East had negatively affected tourist flows to Cyprus.
First-half performance
Net loss after tax attributable to shareholders increased by €7.60 million, or around 68 per cent, in the six months ended June 30, 2026.
Turnover fell by €4.50 million, or 9.20 per cent, to €44.80 million from €49.30 million in the corresponding period of 2025.
Earnings before interest, tax, depreciation and amortisation declined to €1.40 million from €5.10 million a year earlier, a decrease of €3.70 million, or 72 per cent.
The group’s operating profit margin fell to 3.20 per cent from 10.30 per cent.
Outlook
Louis plc said changes in operating expenses and staff costs were mainly attributable to lower group turnover.
The company said the war in the Middle East had affected tourist flows to Cyprus and that the impact was reflected in its first-half results.
“Taking into account the current circumstances, we expect the final results of 2026 to be lower than those of the previous year,” the company said.
This news item was generated automatically by Cyprus Inform from publicly available materials. Report an error →